posted on November 11, 2000 07:02:22 AM new
I was describing paypal and paydirect to someone the other day, and got a question I couldn't answer. Maybe one of you can.
You have a 1,000 balance on your mastercard, which is registered with paydirect. Your payment on this is 50 per month. If you accept a 50 dollar payment from a customer on paydirect, and transfer it to your credit card, does that count as your monthly payment? Or do you still owe 50? In other words, can you use your paydirect payments to make your monthly MC payments? I have no idea!
posted on November 11, 2000 09:54:44 AM new
I don't know. But if you try it and works PLEASE let me know!!
"Don't go around saying the world owes you a living. The world owes you nothing. It was here first."---Mark Twain
posted on November 11, 2000 11:01:50 AM new
I use to have credit cards and it worked like this if the payment made with out the bill to your cridet card is made one the day before the day of or the day after they counted it as your minium payment if it cam before that time or after it was concidered an extra payment.
keep in mind there is an up side to extra payment above and beyond the min payment in that if you pay $50 extra your account is paid down the whole $50 no interest or charges out of it when you make min payment they take all interest and charges.
I would check with your bank about the payments from from paydirect to your credit card and what time frame they must be made to be concidered your min payment. http://www.Dman-N-Company.com
posted on November 11, 2000 01:50:03 PM new
IN MOST CASES, it is treated as a credit (just as if you returned something you bought with the card) and does NOT count as a payment. Personally, I would rather have the credit issued to my debit card then write a check for my payment just to be sure there is no confusion.
posted on November 11, 2000 03:46:42 PM new
My card seems to count it exactly as they would if I'd gotten, say, a credit from Macy's from returning a sweater or something. It doesn't take the place of my monthly min. payment- I still have to make those. But if you're trying to pay off a credit card in a hurry, it's still the way to go.
posted on November 13, 2000 05:58:31 AM new
It appears as a credit. It does not take the place of making a minimum payment due on an outstanding credit card balance but will definately help you pay it down. And please do so. I always have been fortunate to pay the full balance each money and can use their money for 30 days.
So credit all those payments directly to your credit card and get rid of that balance!
'ladele' here only
